Molson Coors (TAP) PT Raised to $75 at Guggenheim

July 29, 2021 6:10 PM EDT
Get Alerts TAP Hot Sheet
Price: $45.52 -1.85%

Rating Summary:
    9 Buy, 15 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 14 | New: 24
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Guggenheim analyst Laurent Grandet raised the price target on Molson Coors (NYSE: TAP) to $75.00 (from $73.00) while maintaining a Buy rating.

The analyst commented, "Molson Coors reported a strong 2Q with organic sales growth of 15.3% driven by improved results in Europe from the on-premise reopening and EPS of $1.58. However, the company did not raise its annual guidance targets, which we interpret more as a sign of prudence given the still-volatile operating environment with the ongoing threat of Delta variant spread in the US and Europe. We remain BUY-rated given the underlying growth acceleration, successful execution of the revitalization plan including a sharper focus on premium brands, confirmed reinstatement of the dividend in 2H, and the favorable risk-reward. We are changing our EPS estimates in FY21 / FY22 / FY23 to $4.22 / $4.86 / $5.24 (prev $4.25 / $4.88 / $5.26) and changing our price target to $75 (prev $73) due primarily to a reduction in net debt."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Guggenheim, Laurent Grandet